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Reuters
Reuters
Business

China-led SCO bloc agrees to expand trade in national currencies

SCO China United States
FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration

The leaders of the Shanghai Cooperation Organisation (SCO) agreed on Friday to take steps to increase the use of national currencies in trade between their countries, according to a joint declaration adopted on Friday.

The group - which comprises China, India, Russia and Pakistan alongside four Central Asian states - said "interested SCO member states" had agreed a "roadmap for the gradual increase in the share of national currencies in mutual settlements", and called for an expansion of the practice.

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